How much do you spend each year ?

Discussion in 'Chicago' started by lotusboy, Nov 26, 2004.

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  1. lotusboy

    lotusboy Formula Junior

    Nov 15, 2003
    368
    Madison,Wi.
    Full Name:
    Kevin Geiwitz
    After driving the 348 this weekend I have the bug to get one. I wont get a 348, but I have seen some very low priced,nice 308s, on ebay that will work for me till I can get my 355. My Lotus was not bad on my wallet I am wondering what kind of normal maint. cost per 10k miles I should budget for. My old car cost me about 2500.00 per year to run with Ins. The Maj. service was just done before I bought it from FVM. Is 3k a year a pipe dream or should I look for a 91 lotus to buy?
     
  2. Tod328gts

    Tod328gts Formula Junior

    Jul 23, 2003
    625
    River Forest, IL
    Full Name:
    Tod Whitmore
    I'm not one to answer this question.... HAH! Lets just say, even if your very mechanical incline and have all the tools and know how to fix a Ferrari, there is still the matter of aquiring the parts, which are all high $$$ amounts. This last year that i have owned my 328, the maintance costs have been a lot!

    I know some people probably didn't have the huge costs, but i ended up on the other side of the fence with this car. A bit dissapointing, but i am hoping once all these issues get resolved in my car, it should be fine then for some time...

    If you would like, i could give a run down on my expenses for the last year, maybe you should set up a poll thread for that, don't want to scare you too much...
     
  3. FerrariFrank1

    FerrariFrank1 F1 Rookie

    Aug 15, 2003
    3,885
    Chicago-Phoenix-L.A.
    Full Name:
    Frank
    I haven't had to spend anything on my Car for the past 4 Years. Except for Gas and Oil Changes,most that I did myself. Insurance? I am 44. Great Driving Record. Live in the 'Burbs.Etc... I pay $165.00 every 6 Months through State Farm. But,that is if I drive it 2500 miles or less. If I drive more,it goes up to about $325.00 every 6 Months.

    But....I bought a Low Mileage,just Serviced car. And,my Service is now Due. So,for all of those,basically,"Free Years". I will get "caught up" with expenses this Winter. But....Then I won't have to worry again for another 4 years...hopefully!....:)
     
  4. Gilles27

    Gilles27 F1 World Champ
    Silver Subscribed

    Mar 16, 2002
    13,341
    Ex-Urbia
    Full Name:
    Jack
    I've had my 328 for 2 1/2 years. When I got it it had it's major done, and I have since put about 7000 miles on it. I blew my water pump, and while it was in I had the hoses replaced as well. About $1500. Other than that, just some dent repair which was free.
     
  5. tifosi12

    tifosi12 Four Time F1 World Champ
    Lifetime Rossa Owner

    Oct 3, 2002
    43,865
    @ the wheel
    Full Name:
    Andreas
    I'm more on Tod's side, although a good part of the money spent on the car was on add-ons and not necessarily maintenance. But you shouldn't ignore the state the car you buy is in: Even if you buy a better example, things like leather seats, rubber trim, paint are showing signs of aging. If you just want to drive the hell out of it, that doesn't matter, but if you want a pretty car, the costs rise.

    In general the 308/328 series are some of the lowest maintenance cars from Ferrari as parts are more or less available and the cars relatively simple to maintain. Relative as compared to other Ferraris, not to other cars. The parts and maintenance costs make a huge jump starting with the 348, let alone a 355, where you start depending on official Ferrari dealers for all the electronics etc.

    Of course going backwards from the 308 series costs also rise because you're hitting vintage area.

    My personal recommendation: Get a 328 with ABS. Most car for the value.
     
  6. spike308

    spike308 F1 Rookie
    Silver Subscribed

    Nov 8, 2003
    3,714
    Austin TX!
    Full Name:
    Mike Z
    I planned on about 3K/year in maintenance, figuring it wouldnt be quite that much, then I'd roll the money over to the next year, anticipating a major service in a few years, or a major disaster. Its been about 3.5K/year so far, excluding insurance after working thru some issues.
    But, I gave her a bath today before throwing the cover on her for the end of the season.... ooooohhhhh.... the curves of the fender.....
    they are a lot like a good woman. They need attention, some money, but it beats the alternative......... (not having one!! HEY... get your minds out of the gutter!!)
     
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  8. Tod328gts

    Tod328gts Formula Junior

    Jul 23, 2003
    625
    River Forest, IL
    Full Name:
    Tod Whitmore
    Ok, here is what i spent this last year...

    Last October, 2003 ... Water Pump R&R About $1400
    Feburary 2004... Major Service and additional repairs About $7000
    June/July 2004... A/C Repair About $2400
    November 2004... Differential R&R probably will be about $3000

    I also added a Tubi, which was about $2600

    Lets hope next year isn't like this, I may start to have regrets i bought this car....
     
  9. spike308

    spike308 F1 Rookie
    Silver Subscribed

    Nov 8, 2003
    3,714
    Austin TX!
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    Mike Z
    Tod -
    alls I can say is OUCH!
    Hopefully she runs like a dream from here on out!
     
  10. Tod328gts

    Tod328gts Formula Junior

    Jul 23, 2003
    625
    River Forest, IL
    Full Name:
    Tod Whitmore
    Tell me about it.... Over the years i was making good investments and stuff, staying single, working hard at my job, etc.... But i thought i did bad with my Lucent stock, HAH! No, with my Personel Ferrari stock is killing me, i hope i don't have to get a second job to continue to maintain it..... GULP... So far, things are ok...

    Funny thing is, i weighed between getting a Ferrari and buying an Airplane, i thought an airplane would cost me more, but i was wrong, i have a few friends that own airplanes and they were showing me thier expenses for the year, i could have owned two airplanes for what this car is costing me... HAH! I sure hope there is an end to this madness and i can just drive and enjoy......

    Well, one positive thing is, i have been using my American Airline Credit Card for all these transactions and i think i have enough now for a free ticket... HAHA!
     
  11. tifosi12

    tifosi12 Four Time F1 World Champ
    Lifetime Rossa Owner

    Oct 3, 2002
    43,865
    @ the wheel
    Full Name:
    Andreas
    Use the miles for a trip to Maranello and tell them what you think about their build quality...

    PS: A friend of mine has two airplanes, but based on his stories I'm not sure airplane maintenance is still cheaper.
     
  12. Darolls

    Darolls F1 Veteran
    BANNED

    Jul 2, 2003
    6,800
    Full Name:
    Sparky
    Tod-

    Wanna talk about the cost of ownership of an airplane; ask me about it when we meet again.

    Remember, I owned a twin Cessna 310!

    With all due respect Tod, you should have considered what Ferrari ownership MIGHT cost you before you bought. Your expenses aren't out of the ordinary.

    You haven't blown a timing belt yet, so consider yourself lucky.
     
  13. Tod328gts

    Tod328gts Formula Junior

    Jul 23, 2003
    625
    River Forest, IL
    Full Name:
    Tod Whitmore

    I know Skip, I could have a twin Cessna needing Major overhauls on both engines, and then some...

    I did kind of have a sense what Ferrari ownership will be, but it really gets to me when everyone is saying they only do oil changes all year and thats it. My car seemed to just have one thing after another go wrong this year. I know next year i may only need just an oil change and everyone else will be needing major services, etc....

    Blowing a belt? That is why i did my major service last winter, for that reason, cheaper to have a major service than a blown engine..... :)
     
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  15. Darolls

    Darolls F1 Veteran
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    Jul 2, 2003
    6,800
    Full Name:
    Sparky
    I do feel for ya Tod.

    I'm sure that in 2005, your car will see less down time, and your wallet will be much fatter!
     
  16. tifosi12

    tifosi12 Four Time F1 World Champ
    Lifetime Rossa Owner

    Oct 3, 2002
    43,865
    @ the wheel
    Full Name:
    Andreas
    I hear ya and I would take those statements with a grain of salt. It is possible, that some folks are just that lucky, but it is also possible that some of those cars don't get driven much or look the part.

    It's funny whenever I take my car to the shop, it normally is the best looking 308 in there. You guys know what my car looks like and it ain't top of the list, yet compared to your "average" 308 it is miles ahead. Probably because it gets some regular and costly maintenance.

    On the same note I also doubt some of those DIY maintenance claims. There are some talented folks amongst us like Dave, Bob and Karl, but I doubt some of the stories I hear from others claiming to maintain their engines at as high a level as a Ferrari shop.

    Finally I'd say it also has to do with the age of the car. Mine was behaving like a Toyota for the last couple of years and now that it got past 40k it started to develop a temperament. Kinda like any car going beyond the big 40k.
     
  17. spike308

    spike308 F1 Rookie
    Silver Subscribed

    Nov 8, 2003
    3,714
    Austin TX!
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    Mike Z
    Tod-
    yours was a very low mile 328, right?
    think it is the "curse of the garage queen"?
     
  18. Ron328

    Ron328 Formula 3
    Silver Subscribed

    Mar 10, 2003
    2,340
    Oregon
    Full Name:
    Ron
    Here's my experience with my '89 328. Bought it Dec. '02 w/ 24K miles.

    In 2003, I spent a total of $1370.00:

    Repair - $358 total for left door lock repair, reattachment of rearview
    mirror, and retorqueing of the oil pan bolts to minimize oil leak.
    Maintenance- $719 for all fluid changes (pricey but I trust the shop
    that did it).
    New parts (not necessary)- $295 for new floor mats, hood struts, gas
    cap key

    In 2004, I've spent a total of $6,141.00 so far: These includes
    New Tubi installed, New Pirellis PZero's (not necessary), New Optima Red
    top (old Interstate died)
    Repair- A/C (incl. new dryer), radiator leak (recored, new thermostat,
    coolant changed)
    Maintenance- steering column and alternator check (okay)
    oil change and new oil pan gasket; transmission fluid checked and
    topped-off
    (done at Maserati STL)

    Mine is due for a major around 2006. Overall I've been (very) happy. These #'s may be cheap by Ferrari standard but nonetheless, owning a Ferrari is not cheap!
    Depending on the model you own, you should have $5-10k to spare in case
    something goes wrong...esp. if you are not mechanically inclined. (I am one od those)

    Ron
     
  19. Tod328gts

    Tod328gts Formula Junior

    Jul 23, 2003
    625
    River Forest, IL
    Full Name:
    Tod Whitmore
    Thats right Mike, Garage Queen mine was, i bought it last year with only 5k miles on it, a 1988. The previous owner left it garaged all the time, for some stupid reason???? I only have 12K now on it, so in the last year, even though 5 months its been in the shop, i added about 7k miles on it. A few items i had issues with were quality issues and would have been caught if the previous owner drove the friken thing and would have been under warrenty... But, i'll tell you, once i get all these issues weeded out of this car, it will be perfect, but of course then due for it's next major service... HAHAHA....
     
  20. tifosi12

    tifosi12 Four Time F1 World Champ
    Lifetime Rossa Owner

    Oct 3, 2002
    43,865
    @ the wheel
    Full Name:
    Andreas
    No wonder you have all these issues. The poor baby is in total shock. It was dormant for 20 years and here comes this hillbilly driving the living daylights out of it...
    :)

    I actually know of another black garage queen that will have a rude awakening come spring 2005, right Dave?
     
  21. Darolls

    Darolls F1 Veteran
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    Jul 2, 2003
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    Sparky
    Knowing Dave like I do, I'm sure he'll address any issues before they occur!
     
  22. FerrariFrank1

    FerrariFrank1 F1 Rookie

    Aug 15, 2003
    3,885
    Chicago-Phoenix-L.A.
    Full Name:
    Frank
    Well,I can "Wrench" Chevy Motors all day long. (Though I haven't in quite a while) But,I won't touch my Ferrari engine. If you do break something,you can't just run down to Pep Boys and get a new part....The only thing I have done myself on the Car was Change the Oil,some Fuses,a couple of Relays,New Optima Battery with Battery Tender,and Washed,Waxed,and Polished it.

    But...I will leave any "Ferrari Engine Wrenching" to the Authorized Ferrari mechanics...:) Sure,it will cost more. But,as I've said before...What price can you put on Peace of Mind?

    I'm starting to think that maybe the reason that I have no problems with my Car,is that maybe the 2nd. Owner may have had alot of things repaired...? (I am the 3rd. Owner)

    I found,and spoke to the Gentleman who bought my car new. He is now Retired,living out in Arizona. He bought the car New in 1981. He sold the car in 1996 with Under 3000 miles. The 2nd Owner put on 11,250 miles from 1996 to 2000,when I got it. Then,it had been "Gone Over" and Serviced by LFSC before I got it. So,maybe thats why I have been Lucky...So far,anyway....:)
     

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